OpenLegislation

Division Expected outcomes specific to NCFF

United Kingdom

Original text. Later amendments are not shown.

During the initial pilot phase, the NCFF is expected to execute 9-12 operations (including indirect operations), or 3-4 operations per year. Individual investments would remain below EUR 10-15 million.

The estimated leverage of the value of the facility to the LIFE provision is between 2,2 and 3,2 fold. Taking into account the possible contribution of final recipients to project costs in the order of 25 %, the leverage of total of investment to the LIFE provision could be between 2,8 and 4,2 fold. The total investment in natural capital management projects over the pilot phase alone could be up to EUR 420 million.

During the operational phase to follow, the expected leverage could go up to 6, especially if other investors join the facility and if more investments are being made through intermediaries and funds.

Notes on Division 7

Footnotes

f1

See also the Programme Statement in the Draft Budget for 2014, COM(2013) 450, p. 181ff. N.b.: Indicators and targets in the Programme Statement were drawn up by the Commission on the basis of its proposal from 2011. During the legislative procedure several changes were introduced: capacity and technical assistance projects were introduced, the total budget was lowered by 15 % and the amount for Nature and Biodiversity was increased to 55 % of the resources allocated to projects (i.e. reducing the amount earmarked for Environment and Resource Efficiency), the co-funding rate was raised to 60 % or more for all projects for the period 2014-20, thematic priorities were introduced, and the percentage of integrated projects was reduced to 30 % of the resources allocated to action grants. The outcomes and targets were therefore adapted accordingly.